Global Prostate Cancer Therapeutics Market

Prostate is an exocrine gland and found only in males. Prostate cancer begins when cells in the prostate gland start to grow uncontrollably. It may spread to other parts of the body mainly bones and lymph nodes. Prostate cancer is the most common type of cancer among the men, but often it can be treated successfully, in initial stages it shows no symptoms but later stages it may produce pain in pelvis, difficulty in urination and furthermore it may cause tiredness and low levels of RBC. The exact cause of prostate cancer is unknown but are generally linked to hereditary causes or to unhealthy diet and lifestyle. Studies suggest that high consumption of red meat and processed meat increases the chances of prostate cancer. Primary risk factors for prostate cancer include obesity, age and family history. Prostate cancer can be diagnosed by biopsy, prostate imaging and various other techniques.

Prostate Cancer Therapeutics Market

Global prostate cancer therapeutics market is rapidly growing due to increase in incidence of prostate cancer and increase in ageing population. In addition, technological advancements in prostate cancer treatment such as radiation therapy and targeted therapy are expected to boost the prostate cancer therapeutics market. However, patients in underdeveloped and developing regions cannot afford the high costs of treatment and diagnosis of cancer can hinder market growth. In addition to this, low diagnostic rates due to unawareness about prostate cancer symptoms is hampering the prostate cancer therapeutics market.

New tests such as phi test, 4Kscore test, Progensa, TMPRSS2 ERG and ConfirmMDX will be more accurate in early stage diagnosis. This, in turn, aids in increasing diagnosis rate and consecutively aid in the growth of the market. Prostate cancer therapeutics market has large and small players and market is highly competitive. Players adopting acquisitions, mergers and collaborations to stenghten product offerings in prostate therapeutics market. For instance, in September 2017, Pfizer acquired Medivation, this acquisition represents opportunity to expand the business offering with an attractive pipeline and with xtandi, medicine for men with prostate cancer. Moreover, In April 2016, TESARO, Inc., an oncology-focused biopharmaceutical company, and Janssen Biotech Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, announced a global collaboration and license agreement focused on the development and commercialization of niraparib specifically for the treatment of prostate cancer.

Geographically prostate cancer drugs market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America expected to have major market share owing to increased research and development, developed healthcare infrastructure and high rate of prostate cancer incidents. In 2017, the American Cancer Society predicts that there will be around 161,360 new diagnoses of prostate cancer and that around 26,730 fatalities will occur because of prostate cancer in America alone. Europe is anticipated to grow at significant rates due to increase in prevalence rates and developed healthcare infrastructure facilities. Asia Pacific region expected to be fastest growing due to developing healthcare infrastructure facilities and increased research and development focused on cancer therapeutics.

About PBIGroup:

Precision Business Insights is one of the leading market research and management consulting firm, run by a group of seasoned and highly dynamic market research professionals with a strong zeal to offer high-quality insights.